Harrison Malayalam Ltd
NSE: HARRMALAYA · Rubber · sector
₹155.47NSE close 2026-10-26
Key numbers
Market cap₹287 cr
Price₹155.47
52w high / low₹238 / ₹154
P/E10.6xSector median 16.9x
P/B1.6xSector median 3.2x
Book value₹96.8
Dividend yield–Sector median 1.03%
ROE16.3%Sector median 16.3%
ROCE13.8%Sector median 13.8%
OPM4.1%Sector median 12.0%
Debt / equity0.60xSector median 0.28x
EV/EBITDA17.4xSector median 12.7x
Interest cover3.2x
Current ratio0.45x
Sales growth 3y+3.5%Sector median +6.0%
Profit growth 3y+17.9%Sector median -2.1%
PEG0.59x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 9 companies in Rubber (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹4 cr vs borrowings ₹108 cr (FY26): borrowings are higher by ₹103 cr.
- Borrowings rose in each of the last 3 years (₹92 cr → ₹108 cr).
- Operating profit covered interest 3.2x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 1 of the last 5 years (FY26).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 89% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹155.47 on 2026-10-26: -34.6% from the 52-week high, +1.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹332.10 · low ₹155.47
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 137 | 142 | 137 | 116 | 134 | 141 | 147 | 125 |
| EBITDA | 7 | 14 | 7 | 8 | -1 | 9 | 9 | 6 |
| OPM % | 5.4% | 9.7% | 4.8% | 7.0% | -0.5% | 6.2% | 5.8% | 4.6% |
| Other income | 2 | 3 | 4 | 3 | 12 | 4 | 6 | 3 |
| Net profit | 4 | 11 | 5 | 6 | 6 | 8 | 9 | 4 |
| EPS (₹) | 2.23 | 6.07 | 2.81 | 3.23 | 3.48 | 4.14 | 4.94 | 2.13 |
| Revenue YoY | -2.1% | -0.8% | +7.6% | +7.3% | ||||
| Profit YoY | +56.2% | -31.8% | +75.5% | -34.1% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 472 | 487 | 488 | 514 | 539 | 548 |
| EBITDA | 31 | 27 | 3 | 24 | 25 | 22 |
| Net profit | 23 | 18 | -7 | 15 | 29 | 27 |
| EPS (₹) | 12.51 | 9.63 | -3.96 | 8.07 | 15.79 | 14.69 |
| Revenue growth | +3.2% | +0.3% | +5.3% | +4.9% | +2.8% | |
| Profit growth | -23.0% | -141.1% | – | +95.6% | +2.4% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +3.5% | +3.6% | +2.8% |
| Net profit | +17.9% | -6.3% | +2.4% |
| EPS | +17.9% | -6.3% | – |
| Share price | – | -24.8% (2y) | -18.5% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 156 | 144 | 154 | 179 |
| Borrowings | – | 92 | 94 | 100 | 108 |
| Cash & equivalents | – | 2 | 2 | 2 | 4 |
| Total assets | – | 445 | 463 | 472 | 502 |
| Fixed assets | – | 290 | 297 | 293 | 293 |
| Capital work in progress | – | 58 | 72 | 88 | 104 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 11 | 18 | 13 | 15 |
| Inventory | – | 38 | 37 | 38 | 46 |
| Payables | – | 46 | 67 | 63 | 61 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 38 | 32 | 33 | 23 | 25 |
| Cash from investing | -14 | -27 | -22 | -16 | -18 |
| Cash from financing | -21 | -7 | -11 | -8 | -4 |
| Capex | 17 | 28 | 22 | 17 | 21 |
| Free cash flow | 21 | 5 | 11 | 6 | 4 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 11.4% | -5.1% | 9.7% | 16.3% |
| ROCE % | – | 12.1% | 2.5% | 11.0% | 14.6% |
| Debtor days | – | 9 | 14 | 9 | 10 |
| Inventory days | – | 97 | 89 | 75 | 85 |
| Payable days | – | 118 | 160 | 123 | 114 |
| Cash conversion cycle (days) | – | -12 | -57 | -39 | -19 |
| Working capital days | – | -72 | -98 | -87 | -79 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 54.12% |
| FIIs | 0.01% |
| DIIs | 0.07% |
| of which Mutual funds | 0.04% |
| Public (non-institutions) | 45.80% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 54.12% | 54.12% | 54.12% | 54.12% | 54.12% | 54.12% | 54.12% | 54.12% |
| Promoter group | % |
|---|---|
| Rainbow Investments Ltd | 24.96% |
| Vayu Associates LLP (Formerly Vayu Udaan Aircraft LLP) | 20.56% |
| Swallow Associates Llp | 5.48% |
| Trade Apartments Limited | 1.14% |
| Harshvardhan Ramprasad Goenka | 0.30% |
| Trivikram Khaitan Trustee of HML Trust No.I | 0.24% |
| Trivikram Khaitan Trustee of HML Trust No.II | 0.24% |
| Trivikram Khaitan Trustee of HML Trust No.III | 0.24% |
| Trivikram Khaitan Trustee of HML Trust No.IV | 0.24% |
| Trivikram Khaitan Trustee of HML Trust No.V | 0.24% |
| Trivikram Khaitan Trustee of HML Trust No.VI | 0.24% |
| Sanjiv Goenka | 0.19% |
| Late Rama Prasad Goenka | 0.05% |
| Carniwal Investments Ltd | 0.01% |
| Anant Vardhan Goenka | 0.00% |
| Public holders above 1% | % |
|---|---|
| Hitesh Ramji Javeri | 3.09% |
| Investor Education and Protection Fund Authority. | 2.48% |
| Harsha Hitesh Javeri | 1.91% |
21,411 shareholders. Pledged: 0.00% of promoter shares.
Peers in Rubber
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| APCOTEXIND | ₹2,715 cr | 16.9x | 4.4x | 27.5% | 31.2% | 16.1% | +10.1% | 1.33% |
| PIXTRANS | ₹2,246 cr | 17.1x | 3.2x | 20.4% | 24.8% | 25.3% | +6.2% | 0.54% |
| TINNARUBR | ₹1,357 cr | 21.7x | 4.5x | 25.8% | 22.6% | 18.6% | – | 0.51% |
| GRPLTD | ₹930 cr | 164.1x | 5.2x | 3.1% | 7.4% | 8.1% | +5.9% | 0.83% |
| HARRMALAYA | ₹287 cr | 10.6x | 1.6x | 16.3% | 13.8% | 4.1% | +3.5% | – |
| RUBFILA | ₹270 cr | 10.2x | 0.9x | 8.7% | 11.7% | 6.8% | – | 4.02% |
| AMEENJI | ₹264 cr | 41.6x | 6.1x | 14.6% | 34.6% | 15.7% | – | – |
| RISHIROOP | ₹112 cr | 5.1x | 0.8x | 8.0% | 10.3% | 12.0% | -6.7% | 1.23% |
| SAMPANN | ₹106 cr | 15.1x | 2.3x | 22.0% | 7.8% | 10.6% | +35.2% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Rubber | ₹293 cr | 54.3% | ₹26 cr | 8.8% |
| Tea | ₹242 cr | 45.0% | ₹-1 cr | -0.3% |
| Others | ₹4 cr | 0.8% | ₹15 cr | 363.2% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-17 | Other | Annual General Meeting |
| 2023-09-20 | Other | Annual General Meeting |
| 2022-09-20 | Other | Annual General Meeting |
| 2021-09-21 | Other | Annual General Meeting |
| 2020-09-16 | Other | Annual General Meeting |
| 2019-08-29 | Other | Annual General Meeting |
| 2018-09-18 | Other | Annual General Meeting |
| 2017-07-26 | Other | Annual General Meeting |
| 2016-09-22 | Other | Annual General Meeting |
| 2015-09-18 | Other | Annual General Meeting |
| 2014-08-21 | Dividend | Annual General Meeting / Dividend - Re 1/- Per Share |
| 2013-09-12 | Dividend | Annual General Meeting / Dividend - Re 0.75/- Per Share |
| 2012-09-13 | Dividend | Annual General Meeting/Dividend Rs 1.50 Per Share |
| 2011-08-30 | Dividend | Annual General Meeting And Dividend Rs.1.50 Per Share |
| 2010-09-29 | Dividend | Dividend-Rs.2/- Per Share |
| 2010-08-31 | Restructuring | Scheme Of Arrangement |
| 2009-09-15 | Other | Agm/Div-Rs.1.50 Per Share |
| 2008-09-02 | Dividend | Agm/Dividend - 15% |
| 2007-09-14 | Dividend | Agm/Dividend-15% |
| 2006-09-14 | Dividend | Agm/Dividend-10% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Rubber |
| Sub-industry | Rubber |
| Symbol | HARRMALAYA |
| BSE code | 500467 |
| ISIN | INE544A01019 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.